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Waterfront Restaurant and Marina Opportunity

16215 Cobb Island Rd Newburg, MD 20664

16215 Cobb Island Rd, Newburg, MD, 20664

$2,950,000

For Sale

$2,950,000

Established restaurant and marina on Neale Sound, Charles County.

Property Size8,712 SF

Price / SF$338.61

AddedApr 7

Days on Market101

Last RefreshJul 15 at 9:29 pm

Property Features for 16215 Cobb Island Rd

General Information

Standard status: Active
Size: 8,712 SF
Property subtype: Commercial

Building Details

Year Built: 1960

Listing office BERKSHIRE HATHAWAY HOMESERVICES PENFED REALTY

Listing date Apr 7, 2026

Source Corcoran

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of BERKSHIRE HATHAWAY HOMESERVICES PENFED REALTY

Investment Insights

Based on property information with market context.

This waterfront property features an established restaurant and marina on Neale Sound, directly off the Wicomico and Potomac Rivers in Charles County. The restaurant building spans approximately 8,712 square feet and includes outdoor waterfront dining, a convenience store, and a take-out area. On-site fuel pumps serve both vehicles and boats. The marina has over 40 slips equipped for daily and overnight docking, many with electric and water hookups. The property has licenses permitting on-sale and off-sale beer, wine, and spirits, as well as Maryland Lottery sales. The business maintains a digital presence with almost fifty thousand Facebook followers. The purchase price includes the real property, marina, business, and all furniture and fixtures. The business will be sold under a separate contract from the real property. The property is a short drive from the Washington, D.C. metropolitan area and Northern Virginia, and benefits from marina traffic, seasonal visitors, and a loyal customer base. This property is suited for an owner-operator or investor seeking a waterfront hospitality asset.

Key Highlights

Rare waterfront property with established restaurant and marina on Neale Sound.
Fully operational 8,712 sq ft restaurant with waterfront dining, convenience store, and take‑out area.
Marina with over 40 slips equipped for daily and overnight docking, many with electric and water hookups.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$233.1k	$26.76
− Vacancy	−$10.3k	−$1.18
EGI	$222.9k	$25.58
− OpEx	−$55.7k	−$6.40
NOI	$167.2k	$19.19

8,712 SF · lease $26.76/SF/yr · vacancy 4.40% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$2.39M

$2.09M – $2.79M (±1% cap)

NOI $167,156 @ 7.0% cap · market cap 5.67%

Second Best

Retail

$1.41M

$1.23M – $1.65M (±1% cap)

NOI $98,794 @ 7.0% cap · market cap 3.35%

Theoretical Best

Multifamily LT 5

$122.33M

$107.04M – $142.72M (±1% cap)

NOI $8,563,109 @ 7.0% cap · market cap 290.27%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Captain John’s Crab ... Restaurant

Suggested Use

For sale
Marinas
MD
Newburg
20664
16215 Cobb Island Rd

What type of property is this?

Marina - Established restaurant and marina on Neale Sound, Charles County.

Where is this marina located?

The property is located at 16215 Cobb Island Rd Newburg, MD.

What is the asking price?

The asking price for this property is $2,950,000.

What are key features of this property?

This property features: Rare waterfront property with established restaurant and marina on Neale Sound.; **Fully operational 8,712 sq ft restaurant with waterfront dining**, convenience store, and take‑out area.; Marina with over 40 slips equipped for daily and overnight docking, many with electric and water hookups.